DOMO vs FNGD: Correlation
Measured on weekly returns over the past three years, Domo, Inc. (DOMO) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOMO and FNGD?
On 3 years of weekly data the DOMO/FNGD correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. The 5-year figure is -0.48, and annualized covariance runs at -2240.9 %².
Among the 13 assets we track against DOMO, FNGD sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with FNGD ahead by 22.0 points (-77.7% versus -55.7%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DOMO vs FNGD: side by side
| DOMO (Domo, Inc.) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | -77.7% | -55.7% |
| 5-year return | -95.7% | -99.4% |
| Volatility (ann.) | 74.7% | 75.7% |
| Beta vs S&P 500 | 2.02 | -4.54 |
| Max drawdown (3Y) | -89.0% | -97.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOMO | FNGD |
|---|---|---|
| 2022 | -71.3% | +52.2% |
| 2023 | -27.7% | -90.1% |
| 2024 | -31.2% | -76.6% |
| 2025 | +19.1% | -61.4% |
| 2026 | -53.6% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOMO and FNGD good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between DOMO and FNGD?
The DOMO/FNGD correlation stands at -0.40 on a 3-year window (1 year: -0.39, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is FNGD a good diversifier for DOMO?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
A reading of -0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: DOMO correlations · FNGD correlations
